The typical particular person doesn’t test the authenticity of their purchases. The truth is, It’s estimated that counterfeit merchandise make up practically 40% of Quick Transferring Shopper Items and Pharmaceutical merchandise. This ends in losses to the business of practically $300bn yearly. It is vitally regarding that, in accordance with a WHO report, 100,000 folks die yearly due to counterfeit antimalarial medicines in West Africa. These horror tales are the rationale serial entrepreneur Dare Odumade based Chekkit Applied sciences in 2018. When a buddy associated their encounter with counterfeit drugs the place a affected person had died after ingesting pretend remedy. Dare sought to problem this, change the panorama, impression folks and rework the way in which folks traded and associated to merchandise within the course of.
Chekkit has created a disruptive anti-counterfeiting software program as a service product that additionally serves as a Shopper Intelligence software. The Chekkit dashboard creates distinctive IDs for merchandise. The distinctive IDs are locked in a blockchain community and this then permits customers to confirm the authenticity of a product utilizing their cell phones. That is completed by scanning a QR code or utilizing a USSD quick code over the client’s primary characteristic telephone. Within the strategy of authentication, prospects can provide manufacturers suggestions on merchandise and get rewards for that immediately.
Whereas the frequent objective for reward applications has been to drive loyalty and long-term relationships with prospects, Chekkit is taking it up a notch and utilizing rewards to collect information and extra significant insights into buyer habits. The beginning-up has attracted the eye of main manufacturers like Merck, Unilever, and different FMCG and Pharma corporations in Africa and protects over 10 million merchandise on cabinets right now. Chekkit at present presents two major merchandise to their B2B shoppers: A Shopper Intelligence annual license and machine studying Picture recognition. They’ve served, protected, and engaged over 200,000 customers instantly and function in Nigeria and Afghanistan.
Chekkit closed a $500,000 pre-seed funding spherical for its operations earlier this 12 months and is about to extend its attain throughout the continent. The market alternative is super and with thrilling partnerships with some notable telecommunications corporations within the pipeline, the startup will quickly penetrate nations like Ghana, Ethiopia and Senegal.
